09011966 Regular Meeting - Laserfiche WebLink

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I I I \.0, I RESOLUTION AND ORDER BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS. CALLING AN ELECTION FOR THE AUTHORIZATION OF BONDS OF THE CITY OF SAN MARCOS IN THE FOLLOWING AMOUNTS AND FOR THE FOLLO'WING PURPOSES: (1) $433.000:REVENUE BONDS FOR THE PURPOSE OF CONSTRUCTING EX- TENSIONS AND IMPROVEMENTS TO THE CITY I S WATERWORKS SYSTEM; (2) $977.000 REVENUE BONDS FOR THE PURPOSE OF CONSTRUCTING EXTENSIONS AND IMPROVEJI'lENTS TO THE CITY'S SEWER SYSTEM; (3) $740.000 TAX BONDS FOR THE PURPOSE OF CONSTRUCTING STREET IMPROVEMENTS IN SAID CITY, INCLUDING THE PURCHASE AND INSTALLA- TION OF A SYNCHRONIZED TRAFFIC SIGNAL LIGHT SYSTEM AND NECESSARY CURB AND SIDEWALK INSTALLATION; (4) $16S,OOO TAX BONDS FOR THE PURPOSE OF CONSTRUCTING AND EQUIPPING A PUBLIC BUILDING TO BE USED AS A FIRE STATION IN SAID CITY; (S) $100,000 TAX BONDS FOR THE PURPOSE OF CONSTRUCTING AND EQUIPPING A PUBLIC BUILDING TO BE USED AS A CIVIC CENTER IN SAID CITY; (6) $120,000 TAX BONDS FOR THE PURPOSE OF CONSTRUCTING AND EQUIPPING A PUBLIC BUILDING TO BE USED AS A CITY HALL IN SAID CITY; AND (7) $200.000 TAX BONDS FOR THE PURPOSE OF PURCHASING LANDS TO BE USED FOR PARK PURPOSES FOR SAID CITY. ---------------------------------------------------------------- WHEREAS, the City Council of the City of San Marcos, Texas, deems it advisable and necessary to issue the bonds of said City in the amounts and for the purposes hereinafter stated; therefore, BE IT RESOLVED AND ORDERED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS. TEXAS: Section 1. That an election is hereby ordered to be held in the City of San Marcos, Texas. on the 27th day of September, 1966, which date is not less than fifteen (IS) nor more than thirty (30) days from the date of the adoption of this resolution and order, at which election the following propositions shall be submitted to the qualified electors who own taxable property in said City and who have duly rendered the same for taxation: PROPOSITION NO. 1 SHALL the City Council of the City of San Marcos, Texas, be authorized to issue $433,000 of revenue bonds of said City for the purpose of constructing extensions and improvements to the City's waterworks system, said bonds to mature serially over a period of years not to exceed forty (40) years from their date and to bear interest at a rate not to exceed five and one-half (S-1/2%) per cent per annum, said revenue bonds to be special obligations of the City of San Marcos, payable as to both principal and interest from and secured by a lien on and pledge of the net revenues from the operation of the City'S combined waterworks and sewer system?